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226.5 532.889 m
234.5 532.889 l
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(Shares)Tj
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337.5 497.389 4 35.5 re
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1 0.84 0.31 0.17 K
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337.5 532.889 m
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343.5 532.889 m
347.5 532.889 l
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(Aggregate Bond Index)Tj
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(\(1\))Tj
8 0 0 8 212.5 491.3893 Tm
0 Tc
(This is an actively managed fund that is not designed to track its reference benchmark. Therefore the performance of the )Tj
T*
(fund and the performance of its reference benchmark may diverge. In addition stated reference benchmark returns do not )Tj
T*
(reect any management or other charges to the fund, whereas stated returns of the fund do.)Tj
/F5 1 Tf
33.316 0 TD
( Past performance does not )Tj
-33.316 -1.25 TD
[(guarantee future results, which may vary)37(. The value of investments and the income derived from investments )]TJ
T*
[(will uctuate and can go down as well as up. A loss of capital may occur)70(.)]TJ
ET
q
212.5 422.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 438.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 427.8893 Tm
0 0 0 0 k
-0.015 Tc
(Performance Summary \(%\))Tj
/F5 1 Tf
8 0 0 8 398.052 410.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Cumulative)-8764(Annualised)]TJ
/F2 1 Tf
-6.669 -1.625 TD
[(Since Launch)-1334(1 Mth)-1220(3 Mths)-1575(YTD)]TJ
ET
q
465.5 393.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 406.389 m
469.5 381.389 l
S
Q
BT
8 0 0 8 479.748 397.8893 Tm
(1 Y)Tj
ET
q
0.2 i
470.5 393.389 20 11 re
W n
BT
8 0 0 8 488.476 397.8893 Tm
0 Tc
(r)Tj
ET
Q
BT
8 0 0 8 500.836 397.8893 Tm
[(3 Yrs)-1292(5 Yrs)-873(10 Yrs)]TJ
ET
q
212.5 380.389 128 13 re
W n
0.132 0.08 0.028 0 k
212.5 393.389 128 -13 re
f
Q
BT
8 0 0 8 217.5 384.8892 Tm
(Class A Shares)Tj
4 0 0 4 258.244 388.3892 Tm
-0.05 Tc
(\(4\))Tj
ET
q
340.5 380.389 45 13 re
W n
0.132 0.08 0.028 0 k
340.5 393.389 45 -13 re
f
Q
BT
8 0 0 8 362.164 384.8892 Tm
-0.025 Tc
(129.83)Tj
ET
q
385.5 380.389 27 13 re
W n
0.132 0.08 0.028 0 k
385.5 393.389 27 -13 re
f
Q
BT
8 0 0 8 392.716 384.8892 Tm
(\(0.86\))Tj
ET
q
412.5 380.389 29 13 re
W n
0.132 0.08 0.028 0 k
412.5 393.389 29 -13 re
f
Q
BT
8 0 0 8 424.868 384.8892 Tm
(0.51)Tj
ET
q
441.5 380.389 24 13 re
W n
0.132 0.08 0.028 0 k
441.5 393.389 24 -13 re
f
Q
BT
8 0 0 8 445.716 384.8892 Tm
(\(0.86\))Tj
ET
q
465.5 380.389 5 13 re
W n
0.132 0.08 0.028 0 k
465.5 393.389 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
469.5 393.389 m
469.5 368.389 l
S
Q
q
470.5 380.389 25 13 re
W n
0.132 0.08 0.028 0 k
470.5 393.389 25 -13 re
f
Q
BT
8 0 0 8 478.868 384.8892 Tm
(5.55)Tj
ET
q
495.5 380.389 24 13 re
W n
0.132 0.08 0.028 0 k
495.5 393.389 24 -13 re
f
Q
BT
8 0 0 8 502.868 384.8892 Tm
(5.13)Tj
ET
q
519.5 380.389 24 13 re
W n
0.132 0.08 0.028 0 k
519.5 393.389 24 -13 re
f
Q
BT
8 0 0 8 526.868 384.8892 Tm
(3.33)Tj
ET
q
543.5 380.389 24 13 re
W n
0.132 0.08 0.028 0 k
543.5 393.389 24 -13 re
f
Q
BT
8 0 0 8 550.868 384.8892 Tm
(3.03)Tj
-41.671 -1.625 TD
(Bloomberg Barclays US Aggregate Bond )Tj
0 -1.3125 TD
(Index)Tj
4 0 0 4 232.044 364.8892 Tm
-0.05 Tc
(\(3\))Tj
8 0 0 8 362.164 371.8892 Tm
-0.025 Tc
[(148.83)-1527(\(0.72\))-2171(0.40)-1152(\(0.72\))]TJ
ET
q
465.5 356.889 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 380.389 m
469.5 355.389 l
S
Q
BT
8 0 0 8 478.868 371.8892 Tm
[(4.71)-1546(5.49)-1546(4.03)-1546(3.72)]TJ
ET
q
212.5 343.889 128 13 re
W n
0.132 0.08 0.028 0 k
212.5 356.889 128 -13 re
f
Q
BT
8 0 0 8 217.5 348.3892 Tm
(Morningstar USD Diversied Bond)Tj
4 0 0 4 310.38 351.8892 Tm
-0.05 Tc
(\(1\))Tj
ET
0.132 0.08 0.028 0 k
340.5 356.889 45 -13 re
f
q
385.5 343.889 27 13 re
W n
385.5 356.889 27 -13 re
f
Q
BT
8 0 0 8 392.716 348.3892 Tm
0 0 0 1 k
-0.025 Tc
(\(0.47\))Tj
ET
q
412.5 343.889 29 13 re
W n
0.132 0.08 0.028 0 k
412.5 356.889 29 -13 re
f
Q
BT
8 0 0 8 424.868 348.3892 Tm
(1.21)Tj
ET
0.132 0.08 0.028 0 k
441.5 356.889 24 -13 re
f
BT
8 0 0 8 445.716 348.3892 Tm
0 0 0 1 k
(\(0.47\))Tj
ET
q
465.5 343.889 5 13 re
W n
0.132 0.08 0.028 0 k
465.5 356.889 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
469.5 356.889 m
469.5 331.889 l
S
Q
0.132 0.08 0.028 0 k
470.5 356.889 25 -13 re
f
BT
8 0 0 8 478.868 348.3892 Tm
0 0 0 1 k
(4.81)Tj
ET
0.132 0.08 0.028 0 k
495.5 356.889 24 -13 re
f
BT
8 0 0 8 502.868 348.3892 Tm
0 0 0 1 k
(4.31)Tj
ET
0.132 0.08 0.028 0 k
519.5 356.889 24 -13 re
f
BT
8 0 0 8 526.868 348.3892 Tm
0 0 0 1 k
(3.51)Tj
ET
0.132 0.08 0.028 0 k
543.5 356.889 24 -13 re
f
BT
8 0 0 8 550.868 348.3892 Tm
0 0 0 1 k
(2.79)Tj
-41.671 -1.625 TD
(Quartile Position in Sector)Tj
4 0 0 4 287.62 338.8892 Tm
-0.05 Tc
(\(1\))Tj
ET
q
0.2 i
385.5 330.889 22 11 re
W n
BT
8 0 0 8 404.148 335.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 433.148 335.3892 Tm
0 Tc
(3)Tj
ET
q
0.2 i
441.5 330.889 19 11 re
W n
BT
8 0 0 8 457.148 335.3892 Tm
(4)Tj
ET
Q
q
465.5 330.889 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 343.889 m
469.5 318.889 l
S
Q
BT
8 0 0 8 487.148 335.3892 Tm
2.556 Tc
(2232)Tj
ET
q
212.5 308.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 324.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 313.8892 Tm
0 0 0 0 k
-0.015 Tc
(Calendar Year Performance \(%\))Tj
/F2 1 Tf
8 0 0 8 449.092 299.8892 Tm
0 0 0 1 k
-0.025 Tc
[(2016)-1449(2017)-1449(2018)-1449(2019)-1449(2020)]TJ
ET
0.132 0.08 0.028 0 k
212.5 295.389 230 -13 re
f
BT
8 0 0 8 217.5 286.8892 Tm
0 0 0 1 k
(Class A Shares)Tj
ET
q
442.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 454.22 286.8892 Tm
(1.3)Tj
ET
0.132 0.08 0.028 0 k
467.5 295.389 25 -13 re
f
BT
8 0 0 8 479.22 286.8892 Tm
0 0 0 1 k
(2.3)Tj
ET
q
492.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 502.196 286.8892 Tm
(-1.5)Tj
ET
0.132 0.08 0.028 0 k
517.5 295.389 25 -13 re
f
BT
8 0 0 8 529.22 286.8892 Tm
0 0 0 1 k
(8.6)Tj
ET
q
542.5 282.389 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 295.389 25 -13 re
f
Q
BT
8 0 0 8 554.22 286.8892 Tm
(8.5)Tj
-42.09 -1.625 TD
[(Bloomberg Barclays US Aggregate Bond Index)-13981(2.6)-2090(3.7)-2090(0.0)-2090(8.7)-2090(7.5)]TJ
/F5 1 Tf
0 -16.7987 TD
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21.)Tj
0 -1.3125 TD
0 Tc
[(Past performance does not guarantee future results, which may vary)37(.)]TJ
/F2 1 Tf
0 -1.25 TD
[(* W)18(e)0( identify two broad categories of funds to help investors think about how to construct their overall investment )]TJ
T*
[(portfolio. W)18(e)0( describe the following as)]TJ
/F5 1 Tf
14.085 0 TD
( Core)Tj
/F2 1 Tf
2.999 0 TD
(: \(A\) Equity funds with a global investment remit or those mainly focused )Tj
-17.084 -1.25 TD
(on US and European markets, given the size and transparency of these markets. \(B\) Fixed income funds with a global )Tj
T*
(investment remit or those mainly focused on US, European and UK markets and invest predominantly in investment )Tj
T*
(grade debt, including government. \(C\) Multi asset funds with a multi asset benchmark. All other funds we describe as)Tj
/F5 1 Tf
42.368 0 TD
( )Tj
-42.368 -1.25 TD
(Complements)Tj
/F2 1 Tf
6.388 0 TD
(. Both Core and Complement funds can vary in risk level and those terms are not meant to indicate the )Tj
-6.388 -1.25 TD
(risk level of the funds. There is no guarantee that these objectives will be met.)Tj
T*
(For regionally focused investment portfolios we understand that the categorisation may be different from the perspective )Tj
T*
(of different investors.)Tj
/F5 1 Tf
7.775 0 TD
( Consult your nancial adviser before investing to help determine if an investment in this )Tj
ET
q
0.2 i
217.5 24.5 350 110.5 re
W n
BT
8 0 0 8 217.5 29 Tm
(f)Tj
ET
Q
BT
8 0 0 8 219.724 29 Tm
(und and the amount of the investment would be suitable)Tj
/F2 1 Tf
22.61 0 TD
(.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
121.842 45.546 122.29 45.772 122.938 45.772 c
123.69 45.772 124.351 45.322 124.351 44.538 c
124.351 40.002 l
122.771 40.002 l
122.771 43.9 l
122.771 44.403 122.682 44.797 122.176 44.797 c
121.674 44.797 121.584 44.403 121.584 43.9 c
121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
118.94 44.797 118.85 44.403 118.85 43.9 c
118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
125.405 44.45 125.628 45.772 127.712 45.772 c
129.84 45.772 130.076 44.393 130.02 42.578 c
126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
134.882 45.772 135.544 45.322 135.544 44.538 c
135.544 40.002 l
133.963 40.002 l
133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
132.867 44.797 132.777 44.403 132.777 43.9 c
132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
q
27.594 27.518 111.827 41.827 re
W n
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
139.209 40.954 139.309 40.954 139.387 40.975 c
139.387 40.002 l
139.175 39.978 138.95 39.944 138.57 39.944 c
137.203 39.944 137.024 40.852 137.024 41.2 c
137.024 44.685 l
136.385 44.685 l
136.385 45.66 l
f
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
39.023 61.455 39.023 60.486 38.811 60.031 c
38.705 59.804 38.549 59.675 38.266 59.675 c
37.984 59.675 37.826 59.804 37.721 60.031 c
37.507 60.486 37.508 61.455 37.508 62.533 c
37.508 63.612 37.507 64.582 37.721 65.037 c
37.826 65.262 37.984 65.39 38.266 65.39 c
38.549 65.39 38.705 65.262 38.811 65.037 c
39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
39.209 65.396 38.8 65.598 38.266 65.598 c
37.738 65.597 37.321 65.373 36.961 65.047 c
36.422 64.559 35.95 63.711 35.95 62.533 c
35.95 61.459 36.319 60.515 36.947 59.99 c
37.326 59.674 37.734 59.469 38.266 59.469 c
38.8 59.469 39.209 59.674 39.587 59.99 c
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247.41 672.482 248.675 672.672 249.948 672.781 c
h
252.5 642.889 m
S
252.5 642.889 m
249.948 672.781 l
250.312 672.812 250.676 672.836 251.041 672.854 c
h
252.5 642.889 m
f
252.5 642.889 m
249.948 672.781 l
250.312 672.812 250.676 672.836 251.041 672.854 c
h
252.5 642.889 m
S
252.5 642.889 m
251.041 672.854 l
251.405 672.871 251.77 672.883 252.135 672.887 c
h
252.5 642.889 m
f
252.5 642.889 m
251.041 672.854 l
251.405 672.871 251.77 672.883 252.135 672.887 c
h
252.5 642.889 m
S
252.5 642.889 m
252.135 672.887 l
252.257 672.888 252.378 672.889 252.5 672.889 c
h
252.5 642.889 m
f
252.5 642.889 m
252.135 672.887 l
252.257 672.889 252.378 672.889 252.5 672.889 c
h
252.5 642.889 m
S
0 0 0 0 k
267.5 642.889 m
267.5 651.173 260.784 657.889 252.5 657.889 c
244.216 657.889 237.5 651.173 237.5 642.889 c
237.5 634.605 244.216 627.889 252.5 627.889 c
260.784 627.889 267.5 634.605 267.5 642.889 c
f
267.5 642.889 m
267.5 651.173 260.784 657.889 252.5 657.889 c
244.216 657.889 237.5 651.173 237.5 642.889 c
237.5 634.605 244.216 627.889 252.5 627.889 c
260.784 627.889 267.5 634.605 267.5 642.889 c
S
BT
/F5 1 Tf
6 0 0 6 290.508 676.3892 Tm
0 0.97 1 0.5 k
(39.4)Tj
ET
q
0.2 i
287.5 672.889 16 8 re
W n
BT
6 0 0 6 299.032 676.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 676.3892 Tm
0 0 0 1 k
(Corporates - Inv. Grade)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.832 -1.3333 TD
(32.7)Tj
ET
q
0.2 i
287.5 664.889 16 8 re
W n
BT
6 0 0 6 299.032 668.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 668.3893 Tm
0 0 0 1 k
(Residential Mortgages )Tj
ET
q
0.2 i
307.5 664.889 75 8 re
W n
BT
6 0 0 6 358.756 668.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 360.224 668.3893 Tm
(RMBS)Tj
ET
q
0.2 i
307.5 664.889 75 8 re
W n
BT
6 0 0 6 374.76 668.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 290.508 660.3892 Tm
0 0.97 1 0.5 k
(18.0)Tj
ET
q
0.2 i
287.5 656.889 16 8 re
W n
BT
6 0 0 6 299.032 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 660.3892 Tm
0 0 0 1 k
(Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.3333 TD
(7.4)Tj
ET
q
0.2 i
287.5 648.889 16 8 re
W n
BT
6 0 0 6 299.032 652.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 652.3892 Tm
0 0 0 1 k
(Quasi-Governments)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.3333 TD
(2.3)Tj
ET
q
0.2 i
287.5 640.889 16 8 re
W n
BT
6 0 0 6 299.032 644.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 644.3893 Tm
0 0 0 1 k
(Asset-Backed Securities )Tj
ET
q
0.2 i
307.5 640.889 75 8 re
W n
BT
6 0 0 6 363.684 644.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
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(ABS)Tj
ET
q
0.2 i
307.5 640.889 75 8 re
W n
BT
6 0 0 6 375.22 644.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 292.972 636.3892 Tm
0 0.97 1 0.5 k
(2.1)Tj
ET
q
0.2 i
287.5 632.889 16 8 re
W n
BT
6 0 0 6 299.032 636.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 636.3892 Tm
0 0 0 1 k
(Emerging Market Debt)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.3333 TD
(0.6)Tj
ET
q
0.2 i
287.5 624.889 16 8 re
W n
BT
6 0 0 6 299.032 628.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 628.3892 Tm
0 0 0 1 k
(Corporates - High Yield)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.3333 TD
(0.6)Tj
ET
q
0.2 i
287.5 616.889 16 8 re
W n
BT
6 0 0 6 299.032 620.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 620.3893 Tm
0 0 0 1 k
(Commercial Mortgages )Tj
ET
q
0.2 i
307.5 616.889 75 8 re
W n
BT
6 0 0 6 360.954 620.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 362.422 620.3893 Tm
(CMBS)Tj
ET
q
0.2 i
307.5 616.889 75 8 re
W n
BT
6 0 0 6 376.958 620.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 291.174 612.3892 Tm
0 0.97 1 0.5 k
(-3.4)Tj
ET
q
0.2 i
287.5 608.889 16 8 re
W n
BT
6 0 0 6 299.032 612.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 612.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0 0.97 1 0.5 k
-2.4213 -1.3333 TD
(0.2)Tj
ET
q
0.2 i
287.5 600.889 16 8 re
W n
BT
6 0 0 6 299.032 604.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 307.5 604.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
q
0.2 i
431.5 672.889 18 8 re
W n
0 0 0 1 K
0.5 w
/GS2 gs
448.346 674.91 m
439.95 678.837 432.082 678.142 y
432 680.889 m
432 675.272 l
446.781 677.483 m
448.69 674.895 l
445.535 673.594 l
S
Q
0.92 0.73 0.2 0.05 k
/GS2 gs
430 642.889 m
430 672.889 l
446.569 672.889 460 659.458 460 642.889 c
460 641.976 459.958 641.064 459.875 640.154 c
h
430 642.889 m
f
/GS1 gs
430 642.889 m
430 672.889 l
446.569 672.889 460 659.458 460 642.889 c
460 641.976 459.958 641.064 459.875 640.154 c
h
430 642.889 m
S
430 642.889 m
459.875 640.154 l
458.365 623.655 443.765 611.504 427.265 613.014 c
425.414 613.184 423.583 613.525 421.795 614.033 c
h
430 642.889 m
f
430 642.889 m
459.875 640.154 l
458.365 623.655 443.765 611.504 427.265 613.014 c
425.414 613.184 423.583 613.525 421.795 614.033 c
h
430 642.889 m
S
430 642.889 m
421.795 614.033 l
405.859 618.564 396.612 635.157 401.144 651.094 c
403.297 658.668 408.343 665.092 415.191 668.979 c
h
430 642.889 m
f
430 642.889 m
421.795 614.033 l
405.859 618.564 396.612 635.157 401.144 651.094 c
403.297 658.668 408.343 665.092 415.191 668.979 c
h
430 642.889 m
S
430 642.889 m
415.191 668.979 l
417.99 670.568 421.025 671.696 424.182 672.32 c
h
430 642.889 m
f
430 642.889 m
415.191 668.979 l
417.99 670.568 421.025 671.696 424.182 672.32 c
h
430 642.889 m
S
430 642.889 m
424.182 672.32 l
424.367 672.356 424.553 672.391 424.739 672.424 c
h
430 642.889 m
f
430 642.889 m
424.182 672.32 l
424.367 672.356 424.553 672.391 424.739 672.424 c
h
430 642.889 m
S
430 642.889 m
424.739 672.424 l
425.731 672.601 426.731 672.728 427.736 672.804 c
h
430 642.889 m
f
430 642.889 m
424.739 672.424 l
425.731 672.601 426.731 672.728 427.736 672.804 c
h
430 642.889 m
S
430 642.889 m
427.736 672.804 l
428.489 672.861 429.244 672.889 430 672.889 c
h
430 642.889 m
f
430 642.889 m
427.736 672.804 l
428.489 672.861 429.244 672.889 430 672.889 c
h
430 642.889 m
S
0 0 0 0 k
445 642.889 m
445 651.173 438.284 657.889 430 657.889 c
421.716 657.889 415 651.173 415 642.889 c
415 634.605 421.716 627.889 430 627.889 c
438.284 627.889 445 634.605 445 642.889 c
f
445 642.889 m
445 651.173 438.284 657.889 430 657.889 c
421.716 657.889 415 651.173 415 642.889 c
415 634.605 421.716 627.889 430 627.889 c
438.284 627.889 445 634.605 445 642.889 c
S
BT
/F5 1 Tf
6 0 0 6 468.008 676.3892 Tm
0.92 0.73 0.2 0.05 k
(26.4)Tj
ET
q
0.2 i
465 672.889 16 8 re
W n
BT
6 0 0 6 476.532 676.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 676.3892 Tm
0 0 0 1 k
(Corporates - Inv. Grade)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.832 -1.3333 TD
(27.9)Tj
ET
q
0.2 i
465 664.889 16 8 re
W n
BT
6 0 0 6 476.532 668.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 668.3893 Tm
0 0 0 1 k
(Residential Mortgages )Tj
ET
q
0.2 i
485 664.889 75 8 re
W n
BT
6 0 0 6 536.256 668.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 537.724 668.3893 Tm
(RMBS)Tj
ET
q
0.2 i
485 664.889 75 8 re
W n
BT
6 0 0 6 552.26 668.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 468.008 660.3892 Tm
0.92 0.73 0.2 0.05 k
(37.3)Tj
ET
q
0.2 i
465 656.889 16 8 re
W n
BT
6 0 0 6 476.532 660.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 660.3892 Tm
0 0 0 1 k
(Governments)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.4213 -1.3333 TD
(5.1)Tj
ET
q
0.2 i
465 648.889 16 8 re
W n
BT
6 0 0 6 476.532 652.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 652.3892 Tm
0 0 0 1 k
(Quasi-Governments)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.4213 -1.3333 TD
(0.3)Tj
ET
q
0.2 i
465 640.889 16 8 re
W n
BT
6 0 0 6 476.532 644.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 644.3893 Tm
0 0 0 1 k
(Asset-Backed Securities )Tj
ET
q
0.2 i
485 640.889 75 8 re
W n
BT
6 0 0 6 541.184 644.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 542.652 644.3893 Tm
(ABS)Tj
ET
q
0.2 i
485 640.889 75 8 re
W n
BT
6 0 0 6 552.72 644.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 470.472 636.3892 Tm
0.92 0.73 0.2 0.05 k
(1.6)Tj
ET
q
0.2 i
465 632.889 16 8 re
W n
BT
6 0 0 6 476.532 636.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 636.3892 Tm
0 0 0 1 k
(Emerging Market Debt)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.4213 -1.3333 TD
(0.0)Tj
ET
q
0.2 i
465 624.889 16 8 re
W n
BT
6 0 0 6 476.532 628.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 628.3892 Tm
0 0 0 1 k
(Corporates - High Yield)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.4213 -1.3333 TD
(1.2)Tj
ET
q
0.2 i
465 616.889 16 8 re
W n
BT
6 0 0 6 476.532 620.3893 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 620.3893 Tm
0 0 0 1 k
(Commercial Mortgages )Tj
ET
q
0.2 i
485 616.889 75 8 re
W n
BT
6 0 0 6 538.454 620.3893 Tm
0 Tc
(\()Tj
ET
Q
BT
6 0 0 6 539.922 620.3893 Tm
(CMBS)Tj
ET
q
0.2 i
485 616.889 75 8 re
W n
BT
6 0 0 6 554.458 620.3893 Tm
0 Tc
(\))Tj
ET
Q
BT
/F5 1 Tf
6 0 0 6 470.472 612.3892 Tm
0.92 0.73 0.2 0.05 k
(0.0)Tj
ET
q
0.2 i
465 608.889 16 8 re
W n
BT
6 0 0 6 476.532 612.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 612.3892 Tm
0 0 0 1 k
(Cash)Tj
/F5 1 Tf
0.92 0.73 0.2 0.05 k
-2.4213 -1.3333 TD
(0.0)Tj
ET
q
0.2 i
465 600.889 16 8 re
W n
BT
6 0 0 6 476.532 604.3892 Tm
0 Tc
(%)Tj
ET
Q
BT
/F1 1 Tf
6 0 0 6 485 604.3892 Tm
0 0 0 1 k
(Derivatives)Tj
ET
q
212.5 574.389 170 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 590.889 170 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 579.8892 Tm
0 0 0 0 k
-0.015 Tc
(Credit Allocation \(%\))Tj
ET
0 0 0 0.4 K
0.2 w
284.5 453.834 m
379.5 453.834 l
284.5 468.278 m
379.5 468.278 l
284.5 482.723 m
379.5 482.723 l
284.5 497.167 m
379.5 497.167 l
284.5 511.611 m
379.5 511.611 l
284.5 526.056 m
379.5 526.056 l
284.5 540.5 m
379.5 540.5 l
284.5 554.945 m
379.5 554.945 l
284.5 569.389 m
379.5 569.389 l
S
0.38 0.27 0.07 0 k
308.25 439.889 m
308.25 446.611 l
308.25 439.889 l
f
BT
/F2 1 Tf
5 0 0 5 312.92 441.2504 Tm
/Cs7 cs 0 scn
0 Tc
(0.0 )Tj
ET
0 0.97 1 0.5 k
308.25 453.334 0.158 -6.722 re
f
BT
5 0 0 5 313.0783 447.9726 Tm
/Cs7 cs 0 scn
(0.2 )Tj
ET
0.38 0.27 0.07 0 k
308.25 454.334 m
308.25 461.056 l
308.25 454.334 l
f
BT
5 0 0 5 312.92 455.6948 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
305.558 467.778 2.692 -6.722 re
f
BT
5 0 0 5 293.5334 462.417 Tm
/Cs7 cs 0 scn
(-3.4 )Tj
ET
0.38 0.27 0.07 0 k
308.25 468.778 m
308.25 475.5 l
308.25 468.778 l
f
BT
5 0 0 5 312.92 470.1392 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
308.25 482.223 0.079 -6.722 re
f
BT
5 0 0 5 312.9991 476.8615 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0.38 0.27 0.07 0 k
308.25 483.223 m
308.25 489.945 l
308.25 483.223 l
f
BT
5 0 0 5 312.92 484.5837 Tm
/Cs7 cs 0 scn
(0.0 )Tj
ET
0 0.97 1 0.5 k
308.25 496.667 0.079 -6.722 re
f
BT
5 0 0 5 312.9991 491.3059 Tm
/Cs7 cs 0 scn
(0.1 )Tj
ET
0.38 0.27 0.07 0 k
308.25 497.667 m
308.25 504.389 l
308.25 497.667 l
f
BT
5 0 0 5 312.92 499.0281 Tm
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(0.0 )Tj
ET
0 0.97 1 0.5 k
308.25 511.111 0.475 -6.722 re
f
BT
5 0 0 5 313.395 505.7504 Tm
/Cs7 cs 0 scn
(0.6 )Tj
ET
0.38 0.27 0.07 0 k
308.25 518.834 9.104 -6.722 re
f
BT
5 0 0 5 320.9141 513.4725 Tm
/Cs7 cs 0 scn
(11.5 )Tj
ET
0 0.97 1 0.5 k
308.25 525.556 20.267 -6.722 re
f
BT
5 0 0 5 332.0767 520.1948 Tm
/Cs7 cs 0 scn
(25.6 )Tj
ET
0.38 0.27 0.07 0 k
308.25 533.278 10.45 -6.722 re
f
BT
5 0 0 5 322.26 527.917 Tm
/Cs7 cs 0 scn
(13.2 )Tj
ET
0 0.97 1 0.5 k
308.25 540 12.271 -6.722 re
f
BT
5 0 0 5 324.0808 534.6392 Tm
/Cs7 cs 0 scn
(15.5 )Tj
ET
0.38 0.27 0.07 0 k
308.25 547.723 3.721 -6.722 re
f
BT
5 0 0 5 316.6408 542.3615 Tm
/Cs7 cs 0 scn
(4.7 )Tj
ET
0 0.97 1 0.5 k
308.25 554.445 2.85 -6.722 re
f
BT
5 0 0 5 315.77 549.0836 Tm
/Cs7 cs 0 scn
(3.6 )Tj
ET
0.38 0.27 0.07 0 k
308.25 562.167 55.892 -6.722 re
f
BT
5 0 0 5 367.7017 556.8058 Tm
/Cs7 cs 0 scn
(70.6 )Tj
ET
0 0.97 1 0.5 k
308.25 568.889 45.758 -6.722 re
f
BT
5 0 0 5 357.5683 563.5281 Tm
/Cs7 cs 0 scn
(57.8 )Tj
ET
0 0 0 1 K
0.5 w
284.5 439.389 m
379.5 439.389 l
284.5 439.389 m
284.5 436.389 l
S
BT
5 0 0 5 281.585 430.3893 Tm
0 0 0 1 k
(-30)Tj
ET
296.375 439.389 m
296.375 436.389 l
S
BT
5 0 0 5 293.46 430.3893 Tm
(-15)Tj
ET
308.25 439.389 m
308.25 436.389 l
S
BT
5 0 0 5 307.14 430.3893 Tm
(0)Tj
ET
320.125 439.389 m
320.125 436.389 l
S
BT
5 0 0 5 317.905 430.3893 Tm
(15)Tj
ET
332 439.389 m
332 436.389 l
S
BT
5 0 0 5 329.78 430.3893 Tm
(30)Tj
ET
343.875 439.389 m
343.875 436.389 l
S
BT
5 0 0 5 341.655 430.3893 Tm
(45)Tj
ET
355.75 439.389 m
355.75 436.389 l
S
BT
5 0 0 5 353.53 430.3893 Tm
(60)Tj
ET
367.625 439.389 m
367.625 436.389 l
S
BT
5 0 0 5 365.405 430.3893 Tm
(75)Tj
ET
379.5 439.389 m
379.5 436.389 l
S
BT
5 0 0 5 377.28 430.3893 Tm
(90)Tj
ET
308.25 439.389 m
308.25 569.389 l
S
BT
6 0 0 6 212.5 445.1115 Tm
(Derivatives)Tj
0 2.4074 TD
(Cash)Tj
T*
(NR)Tj
T*
(CCC)Tj
T*
(BB)Tj
T*
(BBB)Tj
T*
(A)Tj
T*
(AA)Tj
T*
(AAA)Tj
ET
q
212.5 398.389 5 28 re
W n
0 0.97 1 0.5 K
10 w
212.5 426.389 m
217.5 426.389 l
S
Q
BT
/F1 1 Tf
6 0 0 6 220.5 421.8892 Tm
-0.0333 Tc
(Goldman Sachs US Fixed Income )Tj
0 -1.25 TD
(Portfolio)Tj
ET
q
297.5 398.389 5 28 re
W n
0.38 0.27 0.07 0 K
10 w
297.5 426.389 m
302.5 426.389 l
S
Q
BT
6 0 0 6 305.5 421.8892 Tm
(Bloomberg Barclays US )Tj
T*
(Aggregate Bond \(Total Return, )Tj
T*
(Unhedged, USD\))Tj
/F5 1 Tf
8 0 0 8 217.5 169.5 Tm
-0.025 Tc
(Please see Additional Notes. All performance and holdings data as at 31-Jan-21. Past performance does not )Tj
T*
(guarantee future results, which may vary. The value of investments and the income derived from investments will )Tj
ET
q
0.2 i
217.5 145 350 30.5 re
W n
BT
8 0 0 8 217.5 149.5 Tm
0 Tc
()Tj
ET
Q
BT
8 0 0 8 221.3 149.5 Tm
(uctuate and can go down as well as up. A loss of capital may occur.)Tj
/F2 1 Tf
4 0 0 4 217.5 142 Tm
0 Tc
(\(1\))Tj
8 0 0 8 221.052 139 Tm
(The Morningstar sector average gures are calculated using all open funds available in the universe at the indicated )Tj
-0.444 -1.25 TD
(time period. The number of funds in a Morningstar sector varies over time as new funds are launched and funds close. )Tj
T*
[(Source: Morningstar 2021 Morningstar)70(, Inc. All Rights Reserved.)]TJ
4 0 0 4 411.252 122 Tm
( \(2\))Tj
8 0 0 8 415.692 119 Tm
(The ongoing charges gure is based on expenses )Tj
-24.774 -1.25 TD
[(during the previous year)70(. See details in the Key Investor Information Document.)]TJ
4 0 0 4 447.9321 112 Tm
( \(3\))Tj
8 0 0 8 452.372 109 Tm
(The performance of the reference )Tj
-29.359 -1.25 TD
(benchmark prior to 25th September 2017 reects a 1 day lag. The reference benchmark change on 25th September 2017 )Tj
T*
(was due to an enhancement to the way the underlying assets in the portfolio are priced resulting in non-lag benchmarks )Tj
T*
(being the most appropriate reference benchmark for this portfolio. The reference benchmark is quoted daily with income )Tj
T*
(reinvested and, in contrast to the Portfolio, is shown without the deduction of expenses.)Tj
4 0 0 4 473.8041 72 Tm
( \(4\))Tj
8 0 0 8 478.2441 69 Tm
(Fund returns are shown net of )Tj
-32.593 -1.25 TD
[(applicable ongoing fees within the portfolio, with dividends re-invested using the ex-dividend NA)37(V)100(.)0( These returns are for )]TJ
T*
(comparison of performance against specied index. As the investor may be liable to other fees, charges and taxes, they )Tj
T*
(are not meant to provide a measure of actual return to investors. The performance data do not take account of the )Tj
T*
(commissions and costs incurred on the issue and redemption of shares.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
121.842 45.546 122.29 45.772 122.938 45.772 c
123.69 45.772 124.351 45.322 124.351 44.538 c
124.351 40.002 l
122.771 40.002 l
122.771 43.9 l
122.771 44.403 122.682 44.797 122.176 44.797 c
121.674 44.797 121.584 44.403 121.584 43.9 c
121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
118.94 44.797 118.85 44.403 118.85 43.9 c
118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
125.405 44.45 125.628 45.772 127.712 45.772 c
129.84 45.772 130.076 44.393 130.02 42.578 c
126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
134.882 45.772 135.544 45.322 135.544 44.538 c
135.544 40.002 l
133.963 40.002 l
133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
132.867 44.797 132.777 44.403 132.777 43.9 c
132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
q
27.594 27.518 111.827 41.827 re
W n
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
139.209 40.954 139.309 40.954 139.387 40.975 c
139.387 40.002 l
139.175 39.978 138.95 39.944 138.57 39.944 c
137.203 39.944 137.024 40.852 137.024 41.2 c
137.024 44.685 l
136.385 44.685 l
136.385 45.66 l
f
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
39.023 61.455 39.023 60.486 38.811 60.031 c
38.705 59.804 38.549 59.675 38.266 59.675 c
37.984 59.675 37.826 59.804 37.721 60.031 c
37.507 60.486 37.508 61.455 37.508 62.533 c
37.508 63.612 37.507 64.582 37.721 65.037 c
37.826 65.262 37.984 65.39 38.266 65.39 c
38.549 65.39 38.705 65.262 38.811 65.037 c
39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
39.209 65.396 38.8 65.598 38.266 65.598 c
37.738 65.597 37.321 65.373 36.961 65.047 c
36.422 64.559 35.95 63.711 35.95 62.533 c
35.95 61.459 36.319 60.515 36.947 59.99 c
37.326 59.674 37.734 59.469 38.266 59.469 c
38.8 59.469 39.209 59.674 39.587 59.99 c
40.212 60.515 40.583 61.459 40.583 62.533 c
40.583 63.609 40.212 64.551 39.587 65.077 c
f
64.062 59.582 m
62.557 59.582 l
62.557 65.496 l
63.957 65.496 l
63.957 64.83 l
64.134 65.212 64.574 65.555 65.164 65.599 c
66.128 65.668 66.764 65.084 66.764 63.835 c
66.764 59.582 l
65.26 59.582 l
65.26 64.149 l
65.26 64.645 65.247 65.084 64.898 65.173 c
64.748 65.212 64.536 65.188 64.384 65.055 c
64.129 64.826 64.062 64.557 64.062 64.146 c
64.062 59.582 l
f
59.823 63.199 m
59.343 62.888 l
58.839 62.59 58.748 62.204 58.711 61.756 c
58.68 61.415 58.674 60.876 58.711 60.369 c
58.748 59.866 59.051 59.767 59.314 59.876 c
59.645 60.009 59.823 60.494 59.823 61.066 c
h
60.68 65.322 m
61.096 65.076 61.33 64.738 61.33 63.964 c
61.33 59.582 l
59.871 59.582 l
59.871 60.169 l
59.689 59.76 59.267 59.484 58.608 59.484 c
58.04 59.484 57.146 59.729 57.146 61.092 c
57.146 62.351 57.992 62.619 58.873 63.005 c
59.731 63.381 59.823 63.434 59.823 63.757 c
59.823 64.812 l
59.823 65.211 59.591 65.388 59.157 65.363 c
58.99 65.35 58.687 65.262 58.672 65.049 c
58.649 64.758 58.933 64.707 58.974 64.295 c
59.031 63.718 58.549 63.47 58.109 63.494 c
57.818 63.51 57.439 63.683 57.403 64.183 c
57.348 64.945 58.229 65.597 59.477 65.597 c
60.027 65.597 60.39 65.498 60.68 65.322 c
f
38.785 55.336 m
38.302 55.027 l
37.801 54.73 37.712 54.343 37.672 53.896 c
37.642 53.554 37.632 53.016 37.672 52.509 c
37.707 52.006 38.01 51.908 38.279 52.02 c
38.605 52.15 38.785 52.635 38.785 53.203 c
h
39.64 57.463 m
40.057 57.216 40.291 56.875 40.291 56.102 c
40.291 51.719 l
38.835 51.719 l
38.833 52.308 l
38.65 51.9 38.227 51.623 37.569 51.623 c
37.001 51.623 36.107 51.867 36.107 53.232 c
36.107 54.49 36.95 54.756 37.835 55.144 c
38.695 55.518 38.785 55.575 38.785 55.895 c
38.785 56.952 l
38.785 57.35 38.553 57.528 38.119 57.502 c
37.949 57.489 37.65 57.4 37.632 57.188 c
37.607 56.897 37.895 56.846 37.935 56.439 c
37.992 55.857 37.509 55.611 37.072 55.633 c
36.776 55.649 36.399 55.822 36.363 56.324 c
36.308 57.086 37.19 57.737 38.438 57.737 c
38.989 57.737 39.352 57.635 39.64 57.463 c
f
56.294 59.582 m
56.294 63.835 l
56.294 65.084 55.676 65.668 54.712 65.599 c
54.051 65.55 53.653 65.143 53.499 64.743 c
53.257 65.363 52.754 65.645 52.067 65.599 c
51.475 65.555 51.071 65.212 50.891 64.83 c
50.891 65.496 l
49.527 65.496 l
49.527 59.582 l
50.998 59.582 l
50.998 64.146 l
50.998 64.557 51.07 64.836 51.32 65.055 c
51.486 65.194 51.648 65.212 51.801 65.173 c
52.145 65.084 52.16 64.645 52.16 64.149 c
52.16 59.582 l
53.648 59.582 l
53.648 64.158 l
53.648 64.569 53.706 64.83 53.969 65.055 c
54.133 65.194 54.297 65.212 54.446 65.173 c
54.791 65.084 54.809 64.645 54.809 64.149 c
54.809 59.582 l
56.294 59.582 l
f
41.444 66.715 1.522 -7.133 re
f
46.442 65.086 m
46.753 64.629 46.776 63.513 46.776 62.663 c
46.776 61.809 46.827 60.535 46.46 60.071 c
46.316 59.886 46.225 59.811 45.993 59.811 c
45.69 59.811 45.485 60.136 45.42 60.74 c
45.361 61.262 45.345 62.014 45.345 62.703 c
45.345 63.621 45.392 64.305 45.582 64.881 c
45.653 65.09 45.802 65.315 46.018 65.315 c
46.234 65.315 46.343 65.229 46.442 65.086 c
48.249 59.582 m
48.249 66.715 l
46.745 66.715 l
46.745 65.037 l
46.591 65.35 46.296 65.57 45.844 65.57 c
44.732 65.57 43.865 64.412 43.821 62.674 c
43.793 61.507 44.193 59.52 45.71 59.52 c
46.357 59.52 46.616 59.809 46.806 60.217 c
46.806 59.582 l
48.249 59.582 l
f
54.326 57.736 m
54.326 56.038 l
54.112 56.038 l
53.965 56.734 53.631 57.502 52.881 57.526 c
52.502 57.539 52.043 57.314 52.009 56.862 c
51.974 56.422 52.131 56.071 52.908 55.621 c
53.88 55.058 54.689 54.785 54.689 53.609 c
54.689 52.23 53.622 51.718 52.508 51.718 c
50.93 51.718 l
50.93 53.781 l
51.135 53.781 l
51.433 52.543 51.747 51.951 52.654 51.951 c
53.199 51.951 53.582 52.328 53.582 52.932 c
53.582 53.485 53.207 53.856 52.383 54.345 c
51.479 54.88 50.869 55.224 50.869 56.087 c
50.869 56.98 51.543 57.737 52.738 57.737 c
53.137 57.737 54.326 57.736 y
f
49.92 51.719 m
48.417 51.719 l
48.417 56.287 l
48.417 56.785 48.402 57.223 48.06 57.312 c
47.908 57.351 47.692 57.326 47.546 57.194 c
47.289 56.965 47.222 56.697 47.222 56.285 c
47.222 51.719 l
45.717 51.719 l
45.717 53.412 l
45.496 52.623 44.818 51.614 43.679 51.614 c
42.745 51.614 41.15 52.054 41.15 54.612 c
41.15 56.99 42.721 57.727 43.552 57.737 c
44.196 57.741 44.614 57.536 44.901 57.116 c
45.131 56.78 45.16 56.211 44.849 55.863 c
44.481 55.455 43.649 55.522 43.482 56.08 c
43.332 56.584 43.643 56.887 43.847 57.127 c
43.966 57.273 43.949 57.527 43.533 57.527 c
42.982 57.527 42.842 56.893 42.784 56.397 c
42.645 55.129 42.656 53.953 42.788 53.064 c
42.876 52.455 43.045 51.888 43.826 51.878 c
44.829 51.865 45.663 53.275 45.718 54.56 c
45.718 58.855 l
47.223 58.855 l
47.223 57.151 l
47.441 57.451 47.828 57.703 48.325 57.738 c
49.287 57.806 49.92 57.223 49.92 55.975 c
49.92 51.719 l
f
35.059 66.838 m
35.059 64.569 l
34.834 64.569 l
34.58 65.631 34.042 66.61 33.162 66.62 c
32.621 66.628 32.299 66.367 32.05 65.917 c
31.782 65.432 31.646 64.261 31.646 62.976 c
31.646 61.786 31.699 60.834 31.85 60.198 c
31.926 59.882 32.124 59.4 32.7 59.4 c
33.01 59.4 33.217 59.511 33.371 59.668 c
33.605 59.908 33.645 60.428 33.645 60.797 c
33.645 62.067 l
33.645 62.496 33.483 62.764 33.277 62.89 c
33.106 62.996 32.844 63.006 32.693 63.015 c
32.693 63.227 l
35.146 63.227 l
35.146 57.146 l
34.901 57.146 l
34.803 57.669 34.701 58.005 34.454 58.432 c
34.249 58.783 33.789 59.222 33.155 59.222 c
32.451 59.222 31.92 58.796 31.92 58.095 c
31.92 57.239 32.431 57.021 33.414 56.483 c
34.319 55.99 35.52 55.584 35.52 54.062 c
35.52 52.627 34.384 51.719 32.935 51.719 c
30.493 51.719 l
30.493 54.527 l
30.738 54.527 l
31.121 52.204 32.263 51.947 32.911 51.956 c
33.786 51.966 34.065 52.624 34.036 53.371 c
34.005 54.157 33.377 54.501 32.403 55.052 c
31.121 55.772 30.466 56.13 30.496 57.322 c
30.518 58.324 31.338 58.991 32.292 59.244 c
30.348 59.477 29.792 61.192 29.809 63.027 c
29.827 64.852 30.922 66.838 33.047 66.838 c
35.059 66.838 l
f
BT
/F1 1 Tf
8 0 0 8 219.276 14.5 Tm
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(Contingent Convertible \(Coco\) Bond Risk)Tj
/F1 1 Tf
8 0 0 8 184.839 728.8892 Tm
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/F5 1 Tf
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(Counterparty risk)Tj
/F1 1 Tf
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( a party that the Portfolio transacts with may fail to meet its obligations which could cause losses.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Credit risk)Tj
/F1 1 Tf
8 0 0 8 73.387 683.8892 Tm
( the failure of a counterparty or an issuer of a nancial asset held within the Portfolio to meet its payment obligations will )Tj
48.322 0 TD
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/F1 1 Tf
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50.711 0 TD
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()Tj
/F5 1 Tf
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0 0 0 1 k
(Derivatives risk)Tj
/F1 1 Tf
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( derivative instruments are highly sensitive to changes in the value of the underlying asset that they are based on. Certain de)Tj
49.598 0 TD
(rivatives may result in )Tj
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/F6 1 Tf
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()Tj
/F5 1 Tf
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(Exchange rate risk)Tj
/F1 1 Tf
8 0 0 8 102.185 616.3892 Tm
( changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performanc)Tj
52.266 0 TD
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50.878 0 TD
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-50.878 -1.3125 TD
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/F6 1 Tf
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/F5 1 Tf
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0 0 0 1 k
(Interest rate risk)Tj
/F1 1 Tf
8 0 0 8 94.6285 583.3892 Tm
( when interest rates rise, bond prices fall, reecting the ability of investors to obtain a more attractive rate of interest on)Tj
47.71 0 TD
( their money elsewhere. )Tj
-54.8511 -1.3125 TD
(Bond prices are therefore subject to movements in interest rates which may move for a number of reasons, political as well as e)Tj
51.096 0 TD
(conomic.)Tj
/F6 1 Tf
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/F5 1 Tf
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0 0 0 1 k
(Leverage risk)Tj
/F1 1 Tf
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52.433 0 TD
(of derivatives is )Tj
-58.2746 -1.3125 TD
(greater than the amount invested. A leveraged Portfolio may result in large uctuations in the value of the Portfolio and there)Tj
49.713 0 TD
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-49.713 -1.3125 TD
(including the risk that losses may be substantial.)Tj
/F6 1 Tf
6 0 0 6 27.5 527.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 527.8892 Tm
0 0 0 1 k
(Liquidity risk)Tj
/F1 1 Tf
8 0 0 8 82.3545 527.8892 Tm
( the Portfolio may not always nd another party willing to purchase an asset that the Portfolio wants to sell which could impac)Tj
50.267 0 TD
(t the Portfolio's ability to )Tj
-55.8738 -1.3125 TD
(meet redemption requests on demand.)Tj
/F6 1 Tf
6 0 0 6 27.5 505.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 505.3892 Tm
0 0 0 1 k
(Market risk)Tj
/F1 1 Tf
8 0 0 8 77.6285 505.3892 Tm
( the value of assets in the Portfolio is typically dictated by a number of factors, including the condence levels of the marke)Tj
49.044 0 TD
(t in which they are traded.)Tj
/F6 1 Tf
6 0 0 6 27.5 493.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Operational risk)Tj
/F1 1 Tf
8 0 0 8 93.2175 493.3892 Tm
( material losses to the Portfolio may arise as a result of human error, system and/or process failures, inadequate procedures o)Tj
50.318 0 TD
(r controls.)Tj
/F6 1 Tf
6 0 0 6 27.5 481.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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(Mortgage-backed securities \(MBS\) and asset-backed securities \(ABS\) risk)Tj
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( the mortgages backing MBS and assets backing ABS may be repaid earlier )Tj
-34.1711 -1.3125 TD
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/F5 1 Tf
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0.53 0.32 0.11 0 k
(Glossary)Tj
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(Beta)Tj
/F1 1 Tf
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( Measures the sensitivity of the funds returns to the comparative benchmark index return \(annualised\). The nearer to 1.00, t)Tj
49.986 0 TD
(he closer the historical uctuations )Tj
-51.993 -1.3125 TD
(in the value of the fund are to the benchmark. If above 1.00, then fund uctuations have been greater than the benchmark.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Duration of the Portfolio)Tj
/F1 1 Tf
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( Measure of the sensitivity of the price of a bond or portfolio to a change in interest rates paid. The larger the number \(po)Tj
48.822 0 TD
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-59.1527 -1.3125 TD
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48.765 0 TD
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-48.765 -1.3125 TD
(negative duration a rise in interest rates results in a rise in price.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Excess returns)Tj
/F1 1 Tf
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( The return of the fund in excess of the benchmark/index return \(annualised\).)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Historical tracking error)Tj
/F1 1 Tf
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( - Measure of the actual deviation of the funds returns from the comparative benchmark index returns \(annualised\). A higher nu)Tj
50.988 0 TD
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-61.4345 -1.3125 TD
(means that the fund is taking greater risk against the benchmark.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Historical Volatility of Portfolio)Tj
/F1 1 Tf
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( Illustrates the dispersion of the funds realized monthly returns around the average monthly return, indicating how volatile)Tj
49.432 0 TD
( the )Tj
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(funds return is over time. The higher the number the more volatile the funds returns.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Interest Rate Duration)Tj
/F1 1 Tf
8 0 0 8 113.0565 178.8892 Tm
( This is a modied measure of Total Average Duration that has been estimated by GSAM. This modied measure seeks to take acco)Tj
53.153 0 TD
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51.931 0 TD
(et standard. The goal is to improve )Tj
-51.931 -1.3125 TD
(the estimate of the portfolio's sensitivity to changes in interest rates. This estimate is guided by historical market observat)Tj
48.514 0 TD
(ions amongst markets which are )Tj
-48.514 -1.3125 TD
(themselves subject to change over time and may not necessarily be reected by the actual outcome.)Tj
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0.53 0.32 0.11 0 k
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/F5 1 Tf
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0 0 0 1 k
(Net Asset Value)Tj
/F1 1 Tf
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( Represents the net assets of the fund \(ex-dividend\) divided by the total number of shares issued by the fund.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Ongoing Charges)Tj
/F1 1 Tf
8 0 0 8 96.524 123.3892 Tm
( The ongoing charges gure is based on the funds expenses during the previous 12 months, on a rolling basis. It excludes tra)Tj
50.54 0 TD
(nsaction costs and )Tj
-57.918 -1.3125 TD
(performance fees incurred by the fund.)Tj
/F6 1 Tf
6 0 0 6 27.5 100.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Other Expenses)Tj
/F1 1 Tf
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( Fees deduced from the Funds assets incurred as part of the Funds operations, including, where applicable, costs incurred b)Tj
50.652 0 TD
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-57.3797 -1.3125 TD
(investing in other funds.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(R)Tj
/F2 1 Tf
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(2)Tj
/F1 1 Tf
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( Measure that represents the percentage of a portfolio movement linked to movements in the benchmark index return \(annualised)Tj
52.433 0 TD
(\). The nearer to [1.00], the more )Tj
-53.2457 -1.3125 TD
(a fund is tracking the risk of the benchmark, and the less risk that the fund is taking against the benchmark.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Swing pricing)Tj
/F1 1 Tf
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( The swing factor represents the factor in place month end and is subject to change on any Dealing Day depending on prevailin)Tj
51.433 0 TD
(g market conditions.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Yield to Maturity)Tj
/F1 1 Tf
8 0 0 8 95.113 43.8892 Tm
( The rate of return anticipated on a bond if it is held until the maturity date shown without the deduction of any expenses.)Tj
/F6 1 Tf
6 0 0 6 27.5 31.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 31.8892 Tm
0 0 0 1 k
(Yield to Worst)Tj
/F1 1 Tf
8 0 0 8 86.613 31.8892 Tm
( The lowest potential yield that can be received on a bond without the issuer actually defaulting.)Tj
0.53 0.32 0.11 0 k
16.5829 -2.1737 TD
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(Additional Notes)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
-0.0313 Tc
0.0001 Tw
(This material is a nancial promotion and has been issued by Goldman Sachs International, authorised by the Prudential Regulati)Tj
47.4093 0 TD
0 Tw
(on Authority and regulated by the Financial Conduct )Tj
-47.4093 -1.3125 TD
(Authority and the Prudential Regulation Authority.)Tj
0 -1.375 TD
0.0001 Tw
(Furthermore, this information should not be construed as nancial research. It was not prepared in compliance with applicable p)Tj
47.3523 0 TD
(rovisions of law designed to promote the )Tj
-47.3523 -1.3125 TD
0 Tw
(independence of nancial analysis and is not subject to a prohibition on trading following the distribution of nancial researc)Tj
45.7983 0 TD
(h.)Tj
-45.7983 -1.375 TD
0.0001 Tw
(This information is intended for viewing only by the intended recipient and may not be reproduced or distributed to any person )Tj
46.4633 0 TD
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(in whole or in part without the prior written consent of )Tj
-46.4633 -1.3125 TD
0.0001 Tw
(GSI. Goldman Sachs International accepts no liability for the misuse or inappropriate distribution of this material.)Tj
/F5 1 Tf
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(Offering Documents)Tj
/F1 1 Tf
7.4925 0 TD
0.0001 Tw
(: This material is provided at your request for informational purposes only and does not constitute a solicitation in any juris)Tj
44.6833 0 TD
0 Tw
(diction in which such a solicitation is )Tj
-52.1758 -1.3125 TD
0.0001 Tw
(unlawful or to any person to whom it is unlawful. It only contains selected information with regards to the fund and does not c)Tj
46.0203 0 TD
0 Tw
(onstitute an offer to buy shares in the fund. Prior to an )Tj
-46.0203 -1.3125 TD
0.0001 Tw
(investment, prospective investors should carefully read the latest Key Investor Information Document \(KIID\) as well as the offe)Tj
46.4653 0 TD
(ring documentation, including but not limited to the )Tj
-46.4653 -1.3125 TD
(funds prospectus which contains inter alia a comprehensive disclosure of applicable risks. The relevant articles of associatio)Tj
46.2383 0 TD
(n, prospectus, supplement, KIID and latest annual/semi-)Tj
-46.2383 -1.3125 TD
(annual report are available free of charge from the funds paying and information agent and/or from your nancial adviser and a)Tj
46.9643 0 TD
0 Tw
(t www.gsam.com/kiids.)Tj
/F5 1 Tf
-46.9643 -1.375 TD
(Distribution of Shares)Tj
/F1 1 Tf
8.1455 0 TD
0.0001 Tw
(: Shares of the fund may not be registered for public distribution in a number of jurisdictions \(including but not limited to a)Tj
44.2983 0 TD
0 Tw
(ny Latin American, African or Asian )Tj
-52.4438 -1.3125 TD
0.0001 Tw
(countries\). Therefore, the shares of the fund must not be marketed or offered in or to residents of any such jurisdictions unle)Tj
45.5193 0 TD
0 Tw
(ss such marketing or offering is made in compliance with )Tj
-45.5193 -1.3125 TD
0.0001 Tw
(applicable exemptions for the private placement of collective investment schemes and other applicable jurisdictional rules and )Tj
46.8523 0 TD
0 Tw
(regulations.)Tj
/F5 1 Tf
-46.8523 -1.375 TD
0.0001 Tw
(Investment Advice and Potential Loss)Tj
/F1 1 Tf
14.04 0 TD
(: Financial advisers generally suggest a diversied portfolio of investments. The fund described herein does not represent a di)Tj
46.1273 0 TD
0 Tw
(versied )Tj
-60.1673 -1.3125 TD
0.0001 Tw
(investment by itself. This material must not be construed as investment or tax advice. Prospective investors should consult the)Tj
46.3503 0 TD
0 Tw
(ir nancial and tax adviser before investing in order to )Tj
-46.3503 -1.3125 TD
0.0001 Tw
(determine whether an investment would be suitable for them.)Tj
/F5 1 Tf
0 -1.375 TD
(An investor should only invest if he/she has the necessary nancial resources to bear a complete loss of this investment.)Tj
T*
(Swing Pricing)Tj
/F1 1 Tf
5.3728 0 TD
(: Please note that the fund operates a swing pricing policy. Investors should be aware that from time to time this may result i)Tj
45.4633 0 TD
0 Tw
(n the fund performing differently compared )Tj
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8 0 0 8 27.5 558.8892 Tm
0 Tc
(t)Tj
ET
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8 0 0 8 29.474 558.8892 Tm
0.0001 Tw
(o the reference benchmark based solely on the effect of swing pricing rather than price developments of underlying instruments.)Tj
-0.2467 -1.375 TD
0 Tw
(Fees are generally billed and payable at the end of each quarter and are based on average month-end market values during the qu)Tj
48.0743 0 TD
(arter.)Tj
-48.0743 -1.375 TD
0.0001 Tw
(Additional information is provided in our Form ADV Part-2 which is available at http://www.adviserinfo.sec.gov/IAPD/Content/Sea)Tj
47.5213 0 TD
0 Tw
(rch/iapd_Search.aspx.)Tj
/F5 1 Tf
-47.5213 -1.375 TD
0.0001 Tw
(The relevant articles of association, prospectus, supplement and key investor information document \(KIID\) and latest annual/sem)Tj
48.1373 0 TD
(i-annual report \(as applicable\) are available free of )Tj
-48.1373 -1.3125 TD
(charge from the funds paying and information agents as listed below:)Tj
0 -1.375 TD
0 Tw
(Austria)Tj
/F1 1 Tf
2.7253 0 TD
0.0001 Tw
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Wien, Austria.)Tj
/F5 1 Tf
-2.7253 -1.375 TD
0 Tw
(Belgium)Tj
/F1 1 Tf
3.1702 0 TD
0.0001 Tw
(: RBC Investor Services, Place Rogier II, 1210 Brussels, Belgium.)Tj
/F5 1 Tf
-3.1702 -1.375 TD
0 Tw
(Denmark)Tj
/F1 1 Tf
3.4473 0 TD
0.0001 Tw
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva, Denmark.)Tj
/F5 1 Tf
-3.4473 -1.375 TD
0 Tw
(France)Tj
/F1 1 Tf
2.5895 0 TD
0.0001 Tw
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Paris, France.)Tj
/F5 1 Tf
-2.5895 -1.375 TD
0 Tw
(Germany)Tj
/F1 1 Tf
3.3912 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Munich, Germany.)Tj
/F5 1 Tf
-3.3912 -1.375 TD
(Greece)Tj
/F1 1 Tf
2.7565 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Athens, Greece.)Tj
/F5 1 Tf
-2.7565 -1.375 TD
(Ireland)Tj
/F1 1 Tf
2.6702 0 TD
0.0001 Tw
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dublin 2, Ireland.)Tj
/F5 1 Tf
-2.6702 -1.375 TD
0 Tw
(Italy)Tj
/F1 1 Tf
1.6217 0 TD
0.0001 Tw
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Milan, Italy; AllFunds Bank )Tj
46.8493 0 TD
0 Tw
(S.A. Filiale di Milano, Via Santa Margherita 7, 20121 )Tj
-48.471 -1.3125 TD
0.0001 Tw
(Milan, Italy; RBC Investor Services Bank Milan- Milan Branch, Cia Vittor Pisani, 26, 20154 Milan, Italy; State Street Bank S.pA)Tj
45.6843 0 TD
(., Via Col Moschin, 16 , 20136 Milan, Italy; BNP Paribas )Tj
-45.6843 -1.3125 TD
(Securities Services Succursale di Milano, Via Ansperto 5, 20121 Milan, Italy; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Bie)Tj
46.4603 0 TD
0 Tw
(lla Bl., Italy.)Tj
/F5 1 Tf
-46.4603 -1.375 TD
(Luxembourg)Tj
/F1 1 Tf
4.6865 0 TD
(: State Street Bank International GmbH, Luxembourg Branch, 49, avenue J.F. Kennedy, L-1855 Luxembourg.)Tj
/F5 1 Tf
-4.6865 -1.375 TD
(Sweden)Tj
/F1 1 Tf
3.1465 0 TD
0.0001 Tw
(: Skandinaviska Enskilda Banken AB, through its entity Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, ST MH)Tj
48.3503 0 TD
0 Tw
(1, SE-106 40 Stockholm, Sweden.)Tj
/F5 1 Tf
-51.4968 -1.375 TD
(Switzerland)Tj
/F1 1 Tf
4.5462 0 TD
0.0001 Tw
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(nd in Switzerland is Goldman Sachs Bank AG, )Tj
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(the fund may be obtained free of charge at the Swiss )Tj
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(Representative or Goldman Sachs Bank AG in Zurich.)Tj
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(Australia)Tj
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(: This material is distributed in Australia and New Zealand by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 )Tj
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(681, AFSL 228948 \(GSAMA\) and is )Tj
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(Hong Kong)Tj
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-4.1077 -1.375 TD
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(Netherlands)Tj
/F1 1 Tf
4.6562 0 TD
0.0001 Tw
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(Singapore)Tj
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(. \(Company Number: 201329851H\).)Tj
/F5 1 Tf
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(Spain)Tj
/F1 1 Tf
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(ription and KIID for the fund and other mandatory )Tj
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(documentation is available free of charge from any of the authorised distributors of the fund listed in the Comisin Nacional d)Tj
45.9103 0 TD
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(el Mercado de Valores \(CNMV\) webpage at )Tj
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(www.cnmv.es.)Tj
/F5 1 Tf
0 -19.8125 TD
(Condentiality)Tj
/F1 1 Tf
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(No part of this material may, without GSAMs prior written consent, be \(i\) copied, photocopied or duplicated in any form, by an)Tj
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(employee, ofcer, director, or authorized agent of the recipient.)Tj
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( 2021 Goldman Sachs. All rights reserved.)Tj
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(Registered and Principal Ofces:)Tj
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( Luxembourg domiciled Funds Registered Ofce:)Tj
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( c/o State Street Bank International GmbH, Luxembourg Branch, 49, Avenue J-F Kennedy L-1855, )Tj
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